ArcelorMittal (MT) Is Up 0.42% in 2024 With Lots of Room to Run

ArcelorMittal (NYSE: MT) is 0.42% higher on its value in year-to-date trading and has touched a low of $21.30 and a high of $32.49 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MT stock was last observed hovering at around $28.90 in the last trading session, with the day’s loss setting it -0.39%.

Currently trading at $28.51, the stock is 4.40% and 4.88% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.68 million and changing -1.35% at the moment leaves the stock 9.13% off its SMA200. MT registered -2.30% loss for a year compared to 6-month loss of 5.91%. The firm has a 50-day simple moving average (SMA 50) of $0.38 and a 200-day simple moving average (SMA200) of $6.24.

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The stock witnessed a 6.86% gain in the last 1 month and extending the period to 3 months gives it a 29.12%, and is 5.59% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.67% over the week and 1.48% over the month.

ArcelorMittal (MT) has around Nov 13 2023 employees, a market worth around $23.93B and $68.26B in sales. Current P/E ratio is 26.29 and Fwd P/E is 5.48. Profit margin for the company is 1.35%. Distance from 52-week low is 33.85% and -12.24% from its 52-week high. The company has generated returns on investments over the last 12 months (1.48%).

ArcelorMittal quarterly earnings per share for the current quarter are estimated at $0.99 with sales reaching $16.37B over the same period.The EPS is expected to grow by 301.69% this year, but quarterly earnings will post -6.10% year-over-year.

ArcelorMittal (MT) Top Institutional Holders

248 institutions hold shares in ArcelorMittal (MT), with institutional investors hold 4.37% of the company’s shares. The shares outstanding are 839.24M, and float is at 839.24M with Short Float at 0.53%. Institutions hold 4.37% of the Float.

The top institutional shareholder in the company is Dimensional Fund Advisors LP with over 3.9 million shares valued at $106.72 million. The investor’s holdings represent 0.46% of the MT Shares outstanding. As of Jun 29, 2023, the second largest holder is Two Sigma Investments, LP with 3.31 million shares valued at $90.4 million to account for 0.39% of the shares outstanding. The other top investors are Blackrock Inc. which holds 3.08 million shares representing 0.36% and valued at over $84.34 million, while Two Sigma Advisers, LP holds 0.34% of the shares totaling 2.88 million with a market value of $78.87 million.

ArcelorMittal (MT): Who are the competitors?

The company’s main competitors (and peers) include United States Steel Corp. (X) that is trading 61.86% up over the past 12 months. Nucor Corp. (NUE) that is 11.03% higher over the same period.